Tianjin Lisheng Pharmaceutical Co Ltd (002393) - Net Assets

Latest as of March 2026: CN¥4.64 Billion CNY ≈ $678.90 Million USD

Based on the latest financial reports, Tianjin Lisheng Pharmaceutical Co Ltd (002393) has net assets worth CN¥4.64 Billion CNY (≈ $678.90 Million USD) as of March 2026. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (CN¥5.53 Billion ≈ $809.66 Million USD) and total liabilities (CN¥893.57 Million ≈ $130.76 Million USD). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Check 002393 intangible-adjusted equity ratio to evaluate the tangible quality of the company's equity base.

Key Net Assets Metrics

Metric	Value
Current Net Assets	CN¥4.64 Billion
% of Total Assets	83.85%
Annual Growth Rate	13.15%
5-Year Change	6.42%
10-Year Change	55.66%
Growth Volatility	102.87

Tianjin Lisheng Pharmaceutical Co Ltd - Net Assets Trend (2006–2025)

This chart illustrates how Tianjin Lisheng Pharmaceutical Co Ltd's net assets have evolved over time, based on quarterly financial data. See Tianjin Lisheng Pharmaceutical Co Ltd liquidity coverage in days to measure how many days the company can operate on defensive assets alone.

Annual Net Assets for Tianjin Lisheng Pharmaceutical Co Ltd (2006–2025)

The table below shows the annual net assets of Tianjin Lisheng Pharmaceutical Co Ltd from 2006 to 2025. For live valuation and market cap data, see Tianjin Lisheng Pharmaceutical Co Ltd stock valuation.

Year	Net Assets	Change
2025-12-31	CN¥4.69 Billion ≈ $686.81 Million	-2.22%
2024-12-31	CN¥4.80 Billion ≈ $702.39 Million	-2.11%
2023-12-31	CN¥4.90 Billion ≈ $717.53 Million	+12.74%
2022-12-31	CN¥4.35 Billion ≈ $636.45 Million	-1.39%
2021-12-31	CN¥4.41 Billion ≈ $645.40 Million	+2.52%
2020-12-31	CN¥4.30 Billion ≈ $629.53 Million	-2.60%
2019-12-31	CN¥4.42 Billion ≈ $646.32 Million	+37.50%
2018-12-31	CN¥3.21 Billion ≈ $470.07 Million	+4.31%
2017-12-31	CN¥3.08 Billion ≈ $450.66 Million	+2.14%
2016-12-31	CN¥3.02 Billion ≈ $441.21 Million	+1.52%
2015-12-31	CN¥2.97 Billion ≈ $434.60 Million	+2.06%
2014-12-31	CN¥2.91 Billion ≈ $425.81 Million	-0.48%
2013-12-31	CN¥2.92 Billion ≈ $427.86 Million	+4.93%
2012-12-31	CN¥2.79 Billion ≈ $407.77 Million	-0.41%
2011-12-31	CN¥2.80 Billion ≈ $409.46 Million	+5.59%
2010-12-31	CN¥2.65 Billion ≈ $387.79 Million	+462.80%
2009-12-31	CN¥470.87 Million ≈ $68.90 Million	-0.82%
2008-12-31	CN¥474.77 Million ≈ $69.47 Million	+9.84%
2007-12-31	CN¥432.23 Million ≈ $63.25 Million	-3.62%
2006-12-31	CN¥448.45 Million ≈ $65.62 Million	--

Equity Component Analysis

This analysis shows how different components contribute to Tianjin Lisheng Pharmaceutical Co Ltd's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.

Equity Composition Insights

Retained earnings have grown by 1411.8% over the analyzed period, indicating profitable operations and earnings retention.

Current Equity Component Breakdown (December 2025)

Component	Amount	Percentage
Retained Earnings	CN¥1.77 Billion	38.35%
Common Stock	CN¥257.59 Million	5.57%
Other Comprehensive Income	CN¥1.01 Billion	21.77%
Other Components	CN¥1.59 Billion	34.31%
Total Equity	CN¥4.63 Billion	100.00%

Tianjin Lisheng Pharmaceutical Co Ltd Competitors by Market Cap

The table below lists competitors of Tianjin Lisheng Pharmaceutical Co Ltd ranked by their market capitalization.

Company	Market Cap
Guangdong Xiongsu Technology Group Co Ltd SHE:300599	$659.27 Million
Fedbank Financial Services Limited NSE:FEDFINA	$659.27 Million
Corporación Actinver S. A. B. de C. V MX:ACTINVRB	$659.32 Million
Attacq JSE:ATT	$659.36 Million
Chengdu B-ray Media Co Ltd SHG:600880	$659.15 Million
Hangzhou AGS MedTech Co. Ltd. A SHG:688581	$658.71 Million
Alltop Technology Co Ltd TWO:3526	$658.48 Million
Yesway, Inc. Class A Common Stock NASDAQ:YSWY	$658.33 Million

Equity Growth Attribution

This analysis shows how different factors contributed to changes in Tianjin Lisheng Pharmaceutical Co Ltd's equity between the two most recent reporting periods.

Equity Growth Insights

From 2024 to 2025, total equity changed from 4,769,916,090 to 4,628,056,357, a change of -141,859,733 (-3.0%).
Net income of 418,365,975 contributed positively to equity growth.
Dividend payments of 89,692,756 reduced retained earnings.
Share repurchases of 93,062,840 reduced equity.
Other comprehensive income increased equity by 1,007,516,562.
Other factors decreased equity by 1,384,986,674.

Equity Change Factors (2024 to 2025)

Factor	Impact	Contribution
Net Income	CN¥418.37 Million	+9.04%
Dividends Paid	CN¥89.69 Million	-1.94%
Share Repurchases	CN¥93.06 Million	-2.01%
Other Comprehensive Income	CN¥1.01 Billion	+21.77%
Other Changes	CN¥-1.38 Billion	-29.93%
Total Change	CN¥-	-2.97%

Book Value vs Market Value Analysis

This analysis compares Tianjin Lisheng Pharmaceutical Co Ltd's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.

Valuation Insights

Current price-to-book ratio: 0.81x
The company is trading below its book value, potentially indicating the market believes the assets are overvalued on the balance sheet or anticipates future losses.
The price-to-book ratio has decreased from 4.79x to 0.81x over the analyzed period, indicating reduced market premium.

Historical Price-to-Book Ratios

Date	Book Value per Share	Market Price	P/B Ratio
2006-12-31	CN¥3.04	CN¥14.58	x
2007-12-31	CN¥2.94	CN¥14.58	x
2008-12-31	CN¥3.18	CN¥14.58	x
2009-12-31	CN¥3.05	CN¥14.58	x
2010-12-31	CN¥15.76	CN¥14.58	x
2011-12-31	CN¥15.31	CN¥14.58	x
2012-12-31	CN¥15.19	CN¥14.58	x
2013-12-31	CN¥11.48	CN¥14.58	x
2014-12-31	CN¥11.41	CN¥14.58	x
2015-12-31	CN¥11.70	CN¥14.58	x
2016-12-31	CN¥11.74	CN¥14.58	x
2017-12-31	CN¥12.05	CN¥14.58	x
2018-12-31	CN¥12.53	CN¥14.58	x
2019-12-31	CN¥17.27	CN¥14.58	x
2020-12-31	CN¥17.83	CN¥14.58	x
2021-12-31	CN¥17.29	CN¥14.58	x
2022-12-31	CN¥16.93	CN¥14.58	x
2023-12-31	CN¥18.97	CN¥14.58	x
2024-12-31	CN¥18.61	CN¥14.58	x
2025-12-31	CN¥17.92	CN¥14.58	x

Capital Efficiency Dashboard

This dashboard shows how efficiently Tianjin Lisheng Pharmaceutical Co Ltd utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.

Capital Efficiency Insights

Current Return on Equity (ROE): 9.04%
The company has moderate efficiency in generating returns from equity.
DuPont Analysis Breakdown:
• Net Profit Margin: 30.04%
• Asset Turnover: 0.25x
• Equity Multiplier: 1.21x
Recent ROE (9.04%) is below the historical average (10.74%), suggesting potential challenges in capital efficiency.

Historical Capital Efficiency Metrics

Year	Return on Equity	Net Profit Margin	Asset Turnover	Equity Multiplier	Economic Value Added
2006	23.99%	28.68%	0.40x	2.07x	CN¥58.44 Million
2007	33.00%	33.68%	0.45x	2.18x	CN¥92.31 Million
2008	30.52%	22.28%	0.79x	1.72x	CN¥88.76 Million
2009	37.07%	25.94%	0.68x	2.12x	CN¥112.82 Million
2010	7.74%	27.56%	0.27x	1.04x	CN¥-59.35 Million
2011	11.65%	42.53%	0.27x	1.03x	CN¥45.98 Million
2012	10.72%	26.60%	0.38x	1.06x	CN¥19.93 Million
2013	10.02%	28.05%	0.32x	1.10x	CN¥607.15K
2014	3.19%	12.00%	0.24x	1.12x	CN¥-198.10 Million
2015	3.85%	14.74%	0.23x	1.15x	CN¥-182.78 Million
2016	3.83%	13.65%	0.24x	1.16x	CN¥-185.91 Million
2017	3.79%	11.35%	0.28x	1.20x	CN¥-191.15 Million
2018	5.76%	12.30%	0.38x	1.22x	CN¥-136.26 Million
2019	4.26%	11.65%	0.31x	1.19x	CN¥-253.55 Million
2020	0.20%	0.76%	0.23x	1.17x	CN¥-421.59 Million
2021	2.77%	11.18%	0.21x	1.18x	CN¥-318.95 Million
2022	2.15%	8.16%	0.22x	1.22x	CN¥-341.33 Million
2023	7.38%	31.38%	0.20x	1.18x	CN¥-128.51 Million
2024	3.87%	13.81%	0.23x	1.21x	CN¥-292.46 Million
2025	9.04%	30.04%	0.25x	1.21x	CN¥-44.44 Million

Industry Comparison

This section compares Tianjin Lisheng Pharmaceutical Co Ltd's net assets metrics with peer companies in the Drug Manufacturers - Specialty & Generic industry.

Industry Context

Industry: Drug Manufacturers - Specialty & Generic
Average net assets among peers: $3,819,786,107
Average return on equity (ROE) among peers: 5.04%

Peer Company Comparison

Company	Net Assets	Return on Equity	Debt-to-Equity	Market Cap
Tianjin Lisheng Pharmaceutical Co Ltd (002393)	CN¥4.64 Billion	23.99%	0.19x	$659.18 Million
Shenzhen Neptunus Bioengineering Co Ltd (000078)	$5.88 Billion	7.12%	1.83x	$612.18 Million
Anhui Fengyuan Pharmaceutical Co Ltd (000153)	$536.15 Million	4.62%	0.32x	$371.95 Million
Shan Dong Dong-E E-Jiao Co Ltd (000423)	$0.00	0.00%	0.00x	$4.52 Billion
Livzon Pharmaceutical Group Inc (000513)	$13.64 Billion	12.57%	0.51x	$2.56 Billion
Wedge Industrial Co Ltd (000534)	$549.14 Million	1.31%	0.01x	$2.22 Billion
Yunnan Baiyao Group Co Ltd (000538)	$893.64 Million	25.78%	0.79x	$12.90 Billion
Hainan Haiyao Co Ltd (000566)	$5.08 Billion	1.71%	1.08x	$734.70 Million
Tus Pharmaceutical Group Co Ltd (000590)	$271.26 Million	1.07%	1.01x	$324.84 Million
Northeast Pharmaceutical Group Co Ltd (000597)	$1.60 Billion	-10.44%	3.72x	$929.28 Million
Jilin Aodong Pharmaceutical Group Co Ltd (000623)	$9.75 Billion	6.63%	0.12x	$3.13 Billion

About Tianjin Lisheng Pharmaceutical Co Ltd

SHE:002393 China Drug Manufacturers - Specialty & Generic

Market Cap

$659.18 Million

CN¥4.50 Billion CNY

Market Cap Rank

#11058 Global

#3134 in China

Share Price

CN¥14.58

Change (1 day)

+1.46%

52-Week Range

CN¥14.00 - CN¥27.50

All Time High

CN¥46.19